Total loan: $6,425

Muvumba Agric Iv Group

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, , Rwanda / Agriculture

Muvumba Agric Iv Group's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!

A loan helped to buy rice seeds.

Muvumba Agric Iv Group's story

Muvumba Agric Iv is an agriculture group represented by Simon, who is 55 years old. He is married and has six children, aged 13-20 years and all attending school. Simon is a farmer who has been growing rice for the past seven years. With the loan from Kiva, he would like to buy rice seeds to grow rice. The profits from this business will be used to pay school fees for his children. Simon is thankful for the support rendered to him, as well as the group he is leading.

The agriculture sector accounts for 37% of Rwanda's gross domestic product, generates 65% of Rwanda's export revenue, and employs approximately 90% of Rwandans (as of 2009). Despite the importance of agriculture to Rwandans and their economy, financial institutions view lending to fund agricultural activities as a high-risk proposition because the profitability of these activities is affected by weather, natural disasters, and price fluctuations. For this reason, farmers in Rwanda remain underserved by financial institutions. Urwego Bank is expanding into this market and is happy to provide Kiva lenders with the opportunity to support Rwandan farmers.

Due to the global pandemic, Urwego was not able to get a photograph of all the group members, but was able to photograph one representative.